clearing out executives who
were close to former chief Anshu Jain, such as securities
co-chief Colin Fan and asset management head Michele
Faissola.

giving regulatory and
compliance people a bigger say in how the business is
run.

As with any new CEO, Cryan is reshaping the company in his image.
He's not a fan of bureaucracy or slow-motion decisions.

So, there will be a lot fewer chin-stroking meetings at the bank
and the decision-making power will be concentrated in the hands
of fewer people, which should make Deutsche Bank more agile.

To implement his vision, Cryan needs loyal lieutenants and a
clearing out of executives associated with the regime of
former co-CEOs Jain and Jürgen Fitschen. So out goes Colin
Fan, who became co-head of the bank's securities trading arm in
2012, the same year Jain became co-CEO. He's replaced by Garth
Ritchie, who is currently in charge of equities — the stocks
business.

These two shake-ups — client-facing executives and structure —
may grab the most attention.

But Cryan putting regulation and compliance front and centre in
his business plan is the most important move for the future of
Deutsche Bank's business. It's buried right at the end of the
long statement, but if anything has an impact on the bank's
ability to generate profit going forward, it's this.

The bank created a new role — chief regulatory officer — and
filled it with Sylvie Matherat, the bank's highly rated chief
lobbyist. Matherat, who joined only a year ago, was a former
senior official at France's central bank.

Her job will be to keep legal expenses, fines, litigation,
capital rules, and reputational damage from eating into Deutsche
Bank's profits — a huge task.

She replaces Stephan Leithner, who had to do all the regulatory
stuff along with human resources and other operations, which
hasn't worked out well for the bank in the past few years.

Under Jain and Fitschen, the bank was embroiled in all kinds of
scandals, from the manipulation of Libor and foreign-exchange
markets to alleged money laundering in Russia. The bank paid out
a lot of money in fines and legal fees. Deutsche Bank had also
been caught falling asleep at the wheel by the changing
regulatory environment.

Requirements for banks to hold higher amounts of capital, made
since the 2008 financial crisis, have hit the bank in the pocket.
Earlier this month the bank said it expected a third-quarter loss
of €6.2 billion ($6.96 billion) on write-downs brought on by
tougher rules.

With Matherat in the heart of the slimmer power base at the core
of the bank, Cryan will hope that these drags on the bank's
profits will be eliminated.

Cryan is coming at Deutsche Bank's balance sheet from two angles.
He hopes Ritchie will bring in more revenue and Matherat will cut
needless costs.

And all this means the bank should, in time, start making more
profit.